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Australia: Shares snap four weeks of losses; New Zealand slips

[BENGALURU] Australian shares closed higher on Friday, with financial stocks leading gains, as investors found grounds for optimism among some of President-elect Donald Trump's economic policies.

The S&P/ASX 200 index ended 0.8 per cent higher at 5,370.7. The index snapped four weeks of losses to rise 3.7 per cent this week.

Financials gained, in line with the US financial sector overnight, which surged to its highest since the 2008 global financial crisis, as investors turned their focus on Mr Trump's likely priorities which include bank deregulation.

The "Big Four" banks were the top contributors to the main index rising between 2.6 per cent and 4.2 per cent. Commonwealth Bank of Australia rose to its highest in nearly three months.